The Farm Record Book. Table of Contents
|
|
- Margery Henderson
- 7 years ago
- Views:
Transcription
1
2 The Farm Record Book This Farm Record Book is designed to provide a farmer with an organized system for recording expenses, income, land use and treatment, social security and income tax information. Inventory and depreciation schedules are kept in a separate book titled the Louisiana Farm Inventory Record. No farm record book will be any more accurate or complete than the farm manager makes it. Entries should be made daily as a sale or purchase is made so nothing is forgotten. Farm records are of little value unless properly used. The proper farm analysis depends on the individual situation. While many different types of farm analysis can be made, the manager should consider analyzing the use of and returns to the farm's most limited resource. Each year, a net worth statement should be completed so the manager can judge the economic success or failure of the farm. The Louisiana Farm Record Book was designed and intended to be used as an important farm management tool. No provision has been made in this book for recording household, personal or non-farm transactions. These transactions should be recorded elsewhere because income taxes and family planning are affected. Other record books are available in pdf format on our website: Table of Contents Cash Farm and Income... Cash Farm... Cash Farm Expense Totals... Cash Farm Income...0 Cash Farm Income Totals... Farm Cash Flow... Income Statement... Operating Loan / Open Accounts... Enterprise Analysis... Lease Agreements... Crop Mix... Miscellaneous Information...
3 CASH FARM EXPENSES & INCOME The purpose of keeping business expense and income information is to create reports about the business. These reports are used to analyze the business's current financial situation (sources of income, expenses and spending habits) and to plan for the future. Financial information must be organized in an easily understood manner. Organized information tells important facts about the financial situation of the business. Simply listing each transaction for the year makes the manager's job more difficult and time consuming. Think of the manager searching through a very large box of buttons to find a matching set. Using expense and income categories to summarize business transactions makes the information easier to understand and analyze. Farm managers need to know about the expense and income transactions of the business if the business is to be correctly managed. Expense transactions tell the manager how much money is leaving the business, what the expenses are and what each enterprise costs. Income transactions provide information about how much income the business is generating, what items were sold to generate the income and what enterprise produced those items for sale. A manager who can reduce expenses while maintaining current income levels can increase business profits. Likewise, a manager who can increase income while maintaining expenses can increase profits. Different types of businesses have different kinds of income and expenses. For example, insecticides and herbicides are major expenses for cotton growers, but the items are minor expenses for a hog farmer. Hog farmers are more interested in feed and veterinary expenses. A cotton farmer receives income from the sale of cotton lint and seed, and a hog farmer's income comes from the sale of hogs. Each manager must decide what expense and income items are important for understanding the particular business. Some farm businesses have more than one enterprise. The cotton grower may also grow soybeans, or the hog farmer may grow corn. The expenses and income of each enterprise should be kept separately. Common Farm Business Expense Categories: Payroll Chemicals Repairs and Maintenance: Buildings and Facilities Other Farm Feed Purchases Custom Work Hired Utilities Principal Payments Veterinary Fuel, Oil and Grease Tax, Interest and Insurance Purchases: Capital Items & Livestock Fertilizer and Lime Repairs and Maintenance: Machinery Rent or Lease Payments Seeds and Plants Repairs and Maintenance: Equipment Supplies Common Farm Business Income Categories: Crop Sales Custom Work Income Interest and Dividend Income Miscellaneous Income Refunds Livestock Sales Agricultural Program Payments Expense and income categories group business transactions so a manager can more easily study the business and conduct an analysis of the business.
4 CASH FARM EXPENSES - EXAMPLE Total Amount Paid Payroll Feed Purchases Date Num Paid To / Farmers Co-Op ( bu $.0 per bu) 0 0 /0 Deere Co. ( ft rotary mower) 0 0 TOTALS, 0 0 Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired Date Enter the date the activity or event took place. Num Enter the check number if a check was written, "cash" if payment was made in cash or credit card name if payment was by credit card. Paid To Enter the name of the person or company receiving either the check or cash payment. Describe briefly the expense item - kind, quantity and price. () Total Amount Paid Enter the total amount paid for the purchased items. The total of this column should equal the sum of columns through. (Note : Paying personal expenses from the farm accounts will result in overstated farm costs and understated profits. Payments that are made for both business and personal uses should be divided into business and personal amounts, and only the business amount should be used in calculating business expenses.) () Payroll Enter the amount paid for hired labor. Also enter all expenses associated with labor such as FICA, workers' compensation insurance, etc. () Feed Purchases Enter the amount paid for purchased grain, hay, minerals, salt and other feed such as supplements, starter feed, etc. () Veterinary Enter the amount paid for veterinary services and supplies (wormers, medicines, vaccines, farm calls, syringes, etc.) () Fertilizer and Lime Enter the amount paid for purchased fertilizer and lime. () Seeds and Plants Enter the amount paid for purchased seeds, plants, trees, vines, etc. () Chemicals Enter the amount paid for insecticides, herbicides, fungicides and other chemicals. DO NOT include chemicals for livestock use. () Custom Work Hired Enter the amount paid for machine hire and custom work such as combining, hay baling, etc. (NOTE : If a share of the production is given in lieu of any cash farm expense, do not enter this amount as an expense.)
5 CASH FARM EXPENSES - EXAMPLE (CONTINUED) 0 Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock () Fuel, Oil and Grease Enter the amount paid for fuel, oil and grease including gasoline, butane, diesel, etc. (See NOTE.) (0) Repairs & Maintenance - Machinery Enter the amount paid for repairs and maintenance of self-propelled equipment such as trucks, tractors, combines, etc. (NOTE : Major expenses that are to be charged to more than one year's operation should be entered as "Capital Purchases" in column.) () Repairs & Maintenance - Equipment Enter the amount paid for repairs and maintenance for towed equipment such as discs, planters, trailers, pumps, etc. (See NOTE.) () Repairs & Maintenance - Buildings and Facilities Enter the amount paid for repairs and maintenance for barns, fences, roads, bridges, ponds, etc. (See NOTE.) () Utilities Enter the amount paid for electricity, telephone, water, Internet service, electronic data services, etc. () Tax, Interest and Insurance Enter the taxes paid on the farm property, equipment, etc. Enter the insurance paid on farm property, crops, livestock and farm accident and liability insurance. Enter the interest paid on farm mortgages, farm notes, current farm operating expenses, etc. () Rent / Lease Payments Enter the amount paid for the rent or lease of land, equipment or livestock. () Supplies Enter the amount paid for farm supplies such as paper towels, office supplies, soap, gloves, boots, subscriptions, business travel, etc. () Other Farm Enter the amounts paid for items that do not fit elsewhere. () Principal Payments Enter the amount paid on principal of notes. () Purchases - Capital Items and Livestock Enter the amount paid for livestock, equipment and improvements that are to be depreciated.
6 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired
7 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock
8 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired
9 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock
10 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired
11 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock
12 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired 0
13 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock
14 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired
15 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock
16 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired
17 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock
18 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired
19 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock
20 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired
21 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock
22 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired 0
23 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock
24 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired
25 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock
26 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired
27 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock
28 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired
29 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock
30 CASH FARM EXPENSE TOTALS TOTAL CASH EXPENSES By Pages (if record kept continuously) Pages and Pages and Pages and Pages 0 and Pages and Pages and Pages and Pages and Pages 0 and 0 Pages and Pages and Pages and TOTAL CASH EXPENSES By Months (if recorded kept by month) January February March April May June July August September 0 October November December TOTAL CASH EXPENSES Total Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired
31 CASH FARM EXPENSES TOTALS (CONTINUED) 0 0 Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock 0
32 CASH FARM INCOME - EXAMPLE Crops Livestock Products Date Num Sold To Total Income OATS Dairy Other / Bunge Corporation bu $.00 bu / Brown Livestock Sales calves (av $0. lb), 00 TOTALS, Date Enter the date the activity or event took place. Num Enter the sales receipt or invoice number. Sold To Enter the name of the person or company purchasing the product. Describe briefly the item of income - kind, quantity and price. () Total Income Enter the total amount received from the sale. The total of this column should equal the sum of columns through. (NOTE : If a share of the production is given in lieu of any cash farm expense and the value of this share was entered as an expense, a compensating entry of the same amount should be entered in the appropriate column in this section.) ( - ) Crops: Write in the headings needed for columns through. Enter crop income in the appropriate column. () Livestock Products Dairy Enter income from livestock products such as milk, cream, butter and other dairy products. () Livestock Products Other Enter income from livestock products such as hides, eggs, feathers, wool, bees, poultry litter, honey and other miscellaneous products. 0
33 Resale of Purchased Livestock CASH FARM INCOME - EXAMPLE (CONTINUED) 0 Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Raised, 00, 00 () Resale of Purchased Livestock Enter the value of animals purchased to be resold later, such as ryegrass calves, replacement heifers, stocker cows, etc. (0) Livestock - Raised Cattle and Calves Breeding Livestock Enter the value of cattle and calves sold. If purchased and raised livestock are sold at the same time, use two lines and indicate sale in column. () Livestock - Hogs / Sheep Enter the value of hogs and sheep sold. If purchased and raised livestock are sold at the same time, use two lines and indicate sale in column. () Livestock - Poultry Enter the value of poultry sold such as chickens, turkeys, ducks, etc. If purchased and raised livestock are sold at the same time, use two lines and indicate sale in column. ( - ) Livestock - Other Enter income from "other" livestock such as horses, mules, goats, etc. ( - ) Other Farm Income Write in headings for columns through as needed. Enter income from such items as custom work, government program payments, refunds, machine work, farm work, off-farm work and other sources of farm income. () Capital Sales - Equipment Enter the sales value of equipment. () Capital Sales - Breeding Livestock Enter the sales value of breeding livestock.
34 Date Num Sold To 0 0 TOTALS CASH FARM INCOME Crops Livestock Products Total Income Dairy Other
35 CASH FARM INCOME (CONTINUED) Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock
36 Date Num Sold To 0 0 TOTALS CASH FARM INCOME Crops Livestock Products Total Income Dairy Other
37 CASH FARM INCOME (CONTINUED) Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock
38 Date Num Sold To 0 0 TOTALS CASH FARM INCOME Crops Livestock Products Total Income Dairy Other
39 CASH FARM INCOME (CONTINUED) Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock
40 Date Num Sold To 0 0 TOTALS CASH FARM INCOME Crops Livestock Products Total Income Dairy Other
41 CASH FARM INCOME (CONTINUED) Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock
42 Date Num Sold To 0 0 TOTALS CASH FARM INCOME Crops Livestock Products Total Income Dairy Other 0
43 CASH FARM INCOME (CONTINUED) Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock
44 Date Num Sold To 0 0 TOTALS CASH FARM INCOME Crops Livestock Products Total Income Dairy Other
45 CASH FARM INCOME (CONTINUED) Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock
46 TOTAL CASH INCOME Date By Pages (if record kept continuously) Pages and Pages and Pages and Pages and Pages 0 and Pages and TOTAL CASH INCOME CASH FARM INCOME TOTALS Crops Livestock Products Total Income Dairy Other By Month (if record kept by month) January February March April May June July August September 0 October November December TOTAL CASH INCOME
47 CASH FARM INCOME TOTALS (CONTINUED) 0 Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock 0
48 FARM CASH FLOW Value EXPENSE ITEMS This Year's Next Year's Results Results INCOME ITEMS Payroll Crop: Feed Purchases Crop: Veterinary Crop: Fertilizer and Lime Crop: Seeds and Plants Crop: Chemicals Livestock Products: Dairy Custom Work Hired Livestock Products: Other Fuel, Oil and Grease Resale of Purchased Livestock 0 Repairs & Maintenance: Machinery 0 Livestock: Raised Cattle & Calves Repairs & Maintenance: Equipment Livestock: Hogs / Sheep Repairs & Maintenance: Buildings and Facilities Livestock: Poultry Utilities Livestock: Other Tax, Interest and Insurance Livestock: Other Rent / Lease Payments Other Farm Income: Supplies Other Farm Income: Other Farm Other Farm Income: TOTAL CASH OPERATING EXPENSES TOTAL CASH SALES (Sum rows through ) (Sum rows through ) Principal Payments Capital Sales: Equipment 0 Purchases: Capital Items & Livestock 0 Capital Sales: Breeding Livestock TOTAL CASH OUTFLOWS (Sum ++0) TOTAL CASH INFLOWS (Sum ++0) This Year's Results Value Next Year's Results TOTAL CASH OUTFLOWS (minus) NET FARM CASH FLOW** **NET FARM CASH FLOW = TOTAL CASH INFLOWS - TOTAL CASH OUTFLOWS
49 INCOME STATEMENT Name: Date: OPERATING RECEIPTS GROSS RECEIPTS FROM FARMING Crop Sales: CASH FARM EXPENSES Payroll Feed Purchases Veterinary Fertilizer and Lime TOTAL CROP SALES Seeds and Plants Chemicals Livestock Products: Custom Work Hired Dairy Fuel, Oil and Grease Other Repairs & Maintenance: TOTAL LIVESTOCK PRODUCTS Machinery Equipment Resale of Purchased Livestock Buildings & Facilities Utilities Livestock Sales: Taxes, Insurance & Interest Payments Raised Cattle & Calves Rent / Lease Payments Hogs / Sheep Supplies Poultry Other Farm Other TOTAL CASH EXPENSES Other TOTAL LIVESTOCK SALES Other Farm Income: TOTAL OTHER FARM INCOME GROSS RECEIPTS FROM FARMING NET CASH INCOME FROM OPERATIONS
50 INCOME STATEMENT - (CONTINUED) NET CASH INCOME FROM OPERATIONS ADJUSTMENTS FOR CHANGES IN INVENTORIES & ACCRUED RECEIPT-EXPENSE ITEMS Inventories: Ending Inventory Beginning Inventory Change (End - Beg) Inventories: Ending Inventory Beginning Inventory Change (End - Beg) Accounts Receivable and Prepaid Expense Inventory: Ending Inventory Beginning Inventory Change (End-Beg) Supplies Stored Crops Growing Crops Market Livestock Accounts Receivable Prepaid ADJUSTMENTS FOR CAPITAL ITEMS Depreciation (minus) Gain or Loss on Sale of Capital Items (plus / minus) NET FARM INCOME NONFARM INCOME Wages Gifts TOTAL NET INCOME NONFARM EXPENSES Family Living Income & Self-employment Taxes CHANGE IN NET WORTH
51 OPERATING LOAN / OPEN ACCOUNTS Lender: Contact: Address: Telephone: Fax: Interest Rate: Limit: Date Due: Collateral: Other Information: Date Activity Increase Decrease Balance Credit Remaining
52 OPERATING LOAN / OPEN ACCOUNTS Lender: Contact: Address: Telephone: Fax: Interest Rate: Limit: Date Due: Collateral: Other Information: Date Activity Increase Decrease Balance Credit Remaining 0
53 OPERATING LOAN / OPEN ACCOUNTS Lender: Contact: Address: Telephone: Fax: Interest Rate: Limit: Date Due: Collateral: Other Information: Date Activity Increase Decrease Balance Credit Remaining
54 OPERATING LOAN / OPEN ACCOUNTS Lender: Contact: Address: Telephone: Fax: Interest Rate: Limit: Date Due: Collateral: Other Information: Date Activity Increase Decrease Balance Credit Remaining
55 OPERATING LOAN / OPEN ACCOUNTS Lender: Contact: Address: Telephone: Fax: Interest Rate: Limit: Date Due: Collateral: Other Information: Date Activity Increase Decrease Balance Credit Remaining
56 ENTERPRISE ANALYSIS Commodity: Location: Number of Acres: Total Production: Item Total Per Acre Per Unit OPERATING RECEIPTS TOTAL OPERATING RECEIPTS OPERATING EXPENSES Hired Labor Machinery Repair Drying Interest Rent Seed Fertilizer Pesticides and Spray Materials Other Supplies Machinery Hire Fuel and Oil Property Tax Real Estate Tax Water Charges Property Insurance Auto and Truck Utilities TOTAL OPERATING EXPENSES
57 ENTERPRISE ANALYSIS - (CONTINUED) ALLOCATED OVERHEAD COSTS Capital Purchases: Item Total Per Acre Per Unit TOTAL CAPITAL PURCHASES Family Living Income & Self-employment Taxes Other Debt Service: Intermediate - Interest - Principal Long-term - Interest - Principal TOTAL OTHER OUTFLOWS TOTAL CASH OUTFLOWS DIFFERENCE
58 ENTERPRISE ANALYSIS Commodity: Location: Number of Acres: Total Production: Item Total Per Acre Per Unit OPERATING RECEIPTS TOTAL OPERATING RECEIPTS OPERATING EXPENSES Hired Labor Machinery Repair Drying Interest Rent Seed Fertilizer Pesticides and Spray Materials Other Supplies Machinery Hire Fuel and Oil Property Tax Real Estate Tax Water Charges Property Insurance Auto and Truck Utilities TOTAL OPERATING EXPENSES
59 ENTERPRISE ANALYSIS - (CONTINUED) ALLOCATED OVERHEAD COSTS Capital Purchases: Item Total Per Acre Per Unit TOTAL CAPITAL PURCHASES Family Living Income & Self-employment Taxes Other Debt Service: Intermediate - Interest - Principal Long-term - Interest - Principal TOTAL OTHER OUTFLOWS TOTAL CASH OUTFLOWS DIFFERENCE
60 ENTERPRISE ANALYSIS Commodity: Location: Number of Acres: Total Production: Item Total Per Acre Per Unit OPERATING RECEIPTS TOTAL OPERATING RECEIPTS OPERATING EXPENSES Hired Labor Machinery Repair Drying Interest Rent Seed Fertilizer Pesticides and Spray Materials Other Supplies Machinery Hire Fuel and Oil Property Tax Real Estate Tax Water Charges Property Insurance Auto and Truck Utilities TOTAL OPERATING EXPENSES
61 ENTERPRISE ANALYSIS - (CONTINUED) ALLOCATED OVERHEAD COSTS Capital Purchases: Item Total Per Acre Per Unit TOTAL CAPITAL PURCHASES Family Living Income & Self-employment Taxes Other Debt Service: Intermediate - Interest - Principal Long-term - Interest - Principal TOTAL OTHER OUTFLOWS TOTAL CASH OUTFLOWS DIFFERENCE
62 ENTERPRISE ANALYSIS Commodity: Location: Number of Acres: Total Production: Item Total Per Acre Per Unit OPERATING RECEIPTS TOTAL OPERATING RECEIPTS OPERATING EXPENSES Hired Labor Machinery Repair Drying Interest Rent Seed Fertilizer Pesticides and Spray Materials Other Supplies Machinery Hire Fuel and Oil Property Tax Real Estate Tax Water Charges Property Insurance Auto and Truck Utilities TOTAL OPERATING EXPENSES 0
63 ENTERPRISE ANALYSIS - (CONTINUED) ALLOCATED OVERHEAD COSTS Capital Purchases: Item Total Per Acre Per Unit TOTAL CAPITAL PURCHASES Family Living Income & Self-employment Taxes Other Debt Service: Intermediate - Interest - Principal Long-term - Interest - Principal TOTAL OTHER OUTFLOWS TOTAL CASH OUTFLOWS DIFFERENCE
64 ENTERPRISE ANALYSIS Commodity: Location: Number of Acres: Total Production: Item Total Per Acre Per Unit OPERATING RECEIPTS TOTAL OPERATING RECEIPTS OPERATING EXPENSES Hired Labor Machinery Repair Drying Interest Rent Seed Fertilizer Pesticides and Spray Materials Other Supplies Machinery Hire Fuel and Oil Property Tax Real Estate Tax Water Charges Property Insurance Auto and Truck Utilities TOTAL OPERATING EXPENSES
65 ENTERPRISE ANALYSIS - (CONTINUED) ALLOCATED OVERHEAD COSTS Capital Purchases: Item Total Per Acre Per Unit TOTAL CAPITAL PURCHASES Family Living Income & Self-employment Taxes Other Debt Service: Intermediate - Interest - Principal Long-term - Interest - Principal TOTAL OTHER OUTFLOWS TOTAL CASH OUTFLOWS DIFFERENCE
66 ENTERPRISE ANALYSIS Commodity: Location: Number of Acres: Total Production: Item Total Per Acre Per Unit OPERATING RECEIPTS TOTAL OPERATING RECEIPTS OPERATING EXPENSES Hired Labor Machinery Repair Drying Interest Rent Seed Fertilizer Pesticides and Spray Materials Other Supplies Machinery Hire Fuel and Oil Property Tax Real Estate Tax Water Charges Property Insurance Auto and Truck Utilities TOTAL OPERATING EXPENSES
67 ENTERPRISE ANALYSIS - (CONTINUED) ALLOCATED OVERHEAD COSTS Capital Purchases: Item Total Per Acre Per Unit TOTAL CAPITAL PURCHASES Family Living Income & Self-employment Taxes Other Debt Service: Intermediate - Interest - Principal Long-term - Interest - Principal TOTAL OTHER OUTFLOWS TOTAL CASH OUTFLOWS DIFFERENCE
68 LEASE AGREEMENTS Lessor (name, address, telephone) Property Identification Acres Total Used Written Lease Share Terms of Lease
69 LEASE AGREEMENTS Lessor (name, address, telephone) Property Identification Acres Total Used Written Lease Share Terms of Lease
70 CROP MIX - EXAMPLE NAME OF CROP Field Number Number of Acres Total Production Average Yield per Acre Corn 00,000 0 Corn,00 0 Corn home 0,0 TOTALS - CORN,0 0. Soybean 0,0 Soybean 00,000 0 TOTALS - SOYBEAN 0,0.
71 CROP MIX NAME OF CROP Field Number Number of Acres Total Production Average Yield per Acre
72 CROP MIX NAME OF CROP Field Number Number of Acres Total Production Average Yield per Acre 0
73 CROP MIX NAME OF CROP Field Number Number of Acres Total Production Average Yield per Acre
74 MISCELLANEOUS INFORMATION Fahrenheit = [ (Degrees Centigrade x ) / ] = Centigrade = [ x (Degrees Fahrenheit - ) ] / CUBIC MEASURE Relation of Diameter to Capacity of Pipe: Doubling the COMMON MEASURING UNITS - DRY MEASURE cubic foot, cubic inches diameter of a pipe or cylindrical vessel increases its cubic foot.0 quarts cubic yard cubic feet capacity four times. cubic foot. quarts cubic cord (wood) cubic feet cubic foot.0 pecks ton (shipping) 0 cubic feet Properties of the Circle: cubic foot 0.0 bushels standard gallon cubic inches Area of a Circle = (Diameter) x 0. bushel 0. cubic inches Area of a Circle = (Radius) x. bushel. cubic feet SQUARE MEASURE Circumference of a Circle = Diameter x. square foot square inches Diameter of a Circle = Circumference x 0. METRIC MEASURES AND EQUIVALENTS - LENGTHS square yard square feet millimeter square rod 0 / feet Volume of a Cordwood Pile: centimeter = 0 millimeters = 0.0 inch rood 0 square rods (Length x Width x Height) / = Volume of Pile meter = 00 centimeters = 0. inch acre roods kilometer = 000 meters =. inch acre 0 square rods Capacity of a Square Tank in Gallons: inch =. millimeters = 0. mile square mile 0 acres (Length x Width x Height) x. = Number of Gallons foot = 0. millimeters acre,0 square feet yard =. millimeters Capacity of a Cylindrical Tank in Gallons: mile = 0 meters LONG MEASURE { (Diameter in inches) x Height in inches] x 0. foot inches Point off four decimals to get the capacity in gallons METRIC MEASURES AND EQUIVALENTS - LIQUIDS yard feet liter = 00 cubic centimeters of.0 quarts rod / yards or / feet Number of Acres in a Field: U.S. quart = 0. liter furlong 0 rods (Length in rods x Width in rods) / 0 = Acres in Field U.S. gallon =. liters When the opposite sides are unequal, add them and take WEIGHT OF WATER half the sum for the mean length or width. METRIC MEASURES AND EQUIVALENTS - WEIGHT cubic foot. pounds gram = 000 milligrams. grains cubic foot. 0 U.S. gallons Height of a Tree or Building: Set up a stick and measure kilogram = 000 grams.0 pounds U.S. gallon. pounds its shadow. Measure the length of the tree's shadow. metric ton = 000 kilograms 0. pounds grain = 0. 0 gram COMMON MEASURING UNITS - LIQUID MEASURE (Length of Tree's Shadow x Height of Stick) ounce =. grams cubic foot. pints Length of Stick's Shadow pound =. grams cubic foot. quarts ton = 0. kilograms cubic foot. gallons
75 Visit our website: Louisiana Farm Record Book information provided by: Department of Agricultural Economics and Agribusiness LSU AgCenter Louisiana State University Agricultural Center William B. Richardson, Chancellor Louisiana Agricultural Experiment Station John S. Russin, Vice Chancellor and Director Louisiana Cooperative Extension Service Paul D. Coreil, Vice Chancellor and Director Visit our Online Store at to purchase additional copies of the Farm Record Book and other publications produced by the LSU Agcenter. Orders also may be placed by calling --. Pub. 0/ Rev. The LSU AgCenter is a statewide campus of the LSU System and provides equal opportunities in programs and employment.
Farm Tax Record Book SAMPLE
Farm Tax Record Book TABLE OF CONTENTS Farm Receipts... Milk Sales and Deductions Worksheet... Government Payments Worksheet... Commodity Certificates... Sale of Livestock Worksheet... Farm Expenses...0
More informationHow much financing will your farm business
Twelve Steps to Ag Decision Maker Cash Flow Budgeting File C3-15 How much financing will your farm business require this year? When will money be needed and from where will it come? A little advance planning
More informationFarm Financial Management
Farm Financial Management Your Farm Income Statement How much did your farm business earn last year? There are many ways to answer this question. A farm income statement (sometimes called a profit and
More informationFarm Financial Statements Net Worth Statement Statement of Cash Flows Net Income Statement Statement of Owner Equity
Farm Financial Statements Net Worth Statement Statement of Cash Flows Net Income Statement Statement of Owner Equity Recording Transactions in the Date Cash Journal Description Value Amount (bu., lb.,
More informationCash Flow Projection for Operating Loan Determination
E-19 RM-7.0 02-09 Risk Management Cash Flow Projection for Operating Loan Determination Danny Klinefelter and Dean McCorkle* A cash flow statement can be simply described as a record of the dollars coming
More informationAppendix C: Conversions and Calculations
Appendix C: Conversions and Calculations Effective application of pesticides depends on many factors. One of the more important is to correctly calculate the amount of material needed. Unless you have
More informationSetting up your Chart of Accounts
FARM FUNDS WORKSHEETS Setting up your Chart of Accounts Supplies Supplies are any inputs that will be used on a field, group of livestock, or equipment. Setting up a supply will set up the related expense
More informationSTATISTICAL PROFILE OF CAPE BRETON. Prepared By: Nova Scotia Federation of Agriculture
STATISTICAL PROFILE OF CAPE BRETON Prepared By: Nova Scotia Federation of Agriculture 1.0 Introduction Agriculture in the Local Economy Agriculture in Cape Breton is characterized by a diversity of farm
More informationHow much did your farm business earn last year?
Your Farm Ag Decision Maker Income Statement File C3-25 How much did your farm business earn last year? Was it profitabile? There are many ways to answer these questions. A farm income statement (sometimes
More informationWould you like to know more about the
Your Net Worth Ag Decision Maker Statement File C3-20 Would you like to know more about the current financial situation of your farming operation? A simple listing of the property you own and the debts
More informationCattle Producer's Library - CL 1280 CONVERSIONS FOR COMMONLY USED WEIGHTS AND MEASURES
Cattle Producer's Library - CL 1280 CONVERSIONS FOR COMMONLY USED WEIGHTS AND MEASURES Ron Torell, Northeast Area Livestock Specialist University of Nevada, Reno Bill Zollinger, Extension Beef Specialist
More informationEnterprise Budgeting. By: Rod Sharp and Dennis Kaan Colorado State University
Enterprise Budgeting By: Rod Sharp and Dennis Kaan Colorado State University One of the most basic and important production decisions is choosing the combination of products or enterprises to produce.
More informationAgriculture & Business Management Notes...
Agriculture & Business Management Notes... SPA Standardized Performance Analysis For Sheep Producers -- A Worksheet Approach -- Sheep producers have been challenged to be lower cost producers, to become
More informationAssessing and Improving Farm Profitability
1 Fact Sheet 539 Assessing and Improving Farm Profitability Is my farm making money? This is a question farm managers think about often. To stay in business, the farm must generate a profit, at least in
More informationThe financial position and performance of a farm
Farm Financial Ag Decision Maker Statements File C3-56 The financial position and performance of a farm business can be summarized by four important financial statements. The relationship of these statements
More informationCash to Accrual Income Approximation
Cash to Accrual Income Approximation With this program, the user can estimate accrual income using the Schedule F from his/her federal income tax return. Fast Tools & Resources Farmers typically report
More informationAGRICULTURAL LOAN APPLICATION
AGRICULTURAL LOAN APPLICATION REQUESTED LOAN AMOUNT PURPOSE APPLICANT TYPE INDIVIDUAL JOINT CORPORATION PARTNERSHIP OTHER REQUESTED LOAN TYPE OPERATING LINE OF CREDIT TERM EQUIPMENT REAL ESTATE INDIVIDUAL
More informationCalculating Your Milk Production Costs and Using the Results to Manage Your Expenses
Calculating Your Milk Production Costs and Using the Results to Manage Your Expenses by Gary G. Frank 1 Introduction Dairy farms producing milk have numerous sources of income: milk, cull cows, calves,
More informationTennessee Agricultural Production and Rural Infrastructure
Tennessee Trends in Agricultural Production and Infrastructure Highlights - In many states the percentage of the state population designated by the U.S. Census Bureau as living in rural areas has declined,
More informationCORPORATE ACCRUAL TO TAX CONVERSION WORKSHEET
CORPORATE ACCRUAL TO TAX CONVERSION WORKSHEET Taxable entities who have filed tax returns with Canada Revenue Agency (CRA) on a cash basis and have their financial statements prepared on an accrual basis
More informationSection II: Problem Solving (200 points) KEY
ARE 495U Assignment 2-10 points Create 5 or more marketing plan questions that need to be answered related to FF. 2013 North Carolina FFA Farm Business Management Career Development Event Section II: Problem
More informationAGRICULTURE FINANCIAL STATEMENT Borrower # AND LOAN APPLICATION Telephone #
AGRICULTURE FINANCIAL STATEMENT Borrower # AND LOAN APPLICATION Telephone # For the purpose of obtaining credit from Ramsey National Bank (RNB) and any future credit granted by the RNB, or to support an
More informationSELF-EMPLOYED HOUSEHOLDS Section 104 Page 1
SELF-EMPLOYED HOUSEHOLDS Section 104 Page 1 104.1 Purpose This section describes the special policies that apply to households that have self-employment income. 104.2 General Information All the policies
More informationCrop-Share and Cash Rent Lease Comparisons Version 1.6. Introduction
Crop-Share and Cash Rent Lease Comparisons Version 1.6 Alan Miller and Craig L. Dobbins Spreadsheet can be found at http://www.agecon.purdue.edu/extension/pubs/farmland_values.asp Introduction This spreadsheet
More informationRevenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2009 through 2015, Projected 2016
CROP COSTS Department of Agricultural and Consumer Economics University of Illinois Revenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2009 through 2015, Projected 2016 Department
More informationMultiply circumference by 0.3183. Or divide circumference by 3.1416. Multiply diameter by 3.1416. Or divide diameter by 0.3183.
RULES RELATIVE TO THE CIRCLE TO FIND DIAMETER TO FIND CIRCUMFERENCE TO FIND RADIUS TO FIND SIDE OF AN INSCRIBED SQUARE TO FIND SIDE OF AN EQUAL SQUARE Multiply circumference by 0.383. Or divide circumference
More informationFARM BUSINESS RECORDS:
EB1904 FARM BUSINESS RECORDS: An Introduction Richard W. Carkner, Extension Economist TABLE OF CONTENTS I. INTRODUCTION... 2 II. IMPORTANCE OF KEEPING RECORDS... 2 III. CHARACTERISTICS OF GOOD RECORD KEEPING
More informationSTANDARDIZED PERFORMANCE ANALYSIS
STANDARDIZED PERFORMANCE ANALYSIS SPA-6 COW-CALF ENTERPRISE FINANCIAL PERFORMANCE MEASURES WORKSHEET (SPA-FCC) * 6-16-06 SPA is a standardized cow-calf enterprise production and financial performance analysis
More informationDeveloping a Balance Sheet 1
Oklahoma Cooperative Extension Service AGEC-752 Developing a Balance Sheet 1 Damona Doye Extension Economist and Regents Professor Randy True Former Extension Assistant A good information system contributes
More informationTax Return Questionnaire - 2013 Tax Year
Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return Questionnaire
More information3. If you received any interest from a "Seller Financed" mortgage, provide: Name and Address of Payer Social Security Number Amount
Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return Questionnaire
More informationFarmland Lease Analysis: Program Overview. Navigating the Farmland Lease Analysis program
Farmland Lease Analysis: Program Overview The farmland lease analysis program is used to aid tenants and landlords in determining the returns and risks from different farmland leases. The program offers
More informationFarm Business Analysis Report BEEF SUMMARY
Extension No. M M-356 ESQ No. 490 1977 Farm Business Analysis Report BEEF SUMMARY Department of Agricultural Economics and Rural Sociology Cooperative Extension Service The Ohio State University Columbus,
More informationStatistical Profile of Lunenburg County
Statistical Profile of Lunenburg County Prepared by the Nova Scotia Federation of Agriculture 1 Contents 1.0 Introduction... 2 Agriculture in the Local Economy... 2 2.0 Population and Population Change...
More information298,320 3,041 107,825. Missouri Economic Research Brief FARM AND AGRIBUSINESS. Employment. Number of Agribusinesses.
Missouri Economic Research Brief FARM AND AGRIBUSINESS Missouri s Farm and Agribusiness Missouri s farm and agribusiness sectors include crops, livestock, industries supporting farm production and farm-related
More informationAssessing and Improving Your Farm Cash Flow
Fact Sheet 541 Assessing and Improving Your Farm Cash Flow What Is Liquidity? Liquidity refers to the ability of your farm to generate enough cash to meet financial obligations as they come due without
More informationEstimated Costs of Crop. Production in Iowa - 2016 File A1-20 The estimated costs of corn, corn silage, Ag Decision Maker
Estimated Costs of Crop Ag Decision Maker Production in Iowa - 2016 File A1-20 The estimated costs of corn, corn silage, soybeans, alfalfa, and pasture maintenance in this report are based on data from
More informationAgricultural Balance Sheet (Financial Statement)
Agricultural Balance Sheet (Financial Statement) This form can be used as a guide to collect information for an annual financial statement or for an application for credit. If you are using the Adobe PDF
More informationComputerized Farm Records
Computerized Farm Records Peg Brune ~ Dodge, NE 402-693-2801 Email: brune@skyww.net Agricultural Bookkeeping: Quickbooks or Quicken???? Accounting: Accountants prefer Quickbooks, mostly because a lot of
More informationCash Flow Budget: What Will It Tell Me? *
Purdue Extension Knowledge to Go Cash Flow Budget: What Will It Tell Me? * How much financing will your farm business require this year? When will money be needed, and from where will it come? A little
More informationUsing Enterprise Budgets in Farm Financial Planning
Oklahoma Cooperative Extension Service AGEC-243 Using Enterprise Budgets in Farm Financial Planning Damona Doye Regents Professor and Extension Economist Roger Sahs Extension Assistant Oklahoma Cooperative
More informationCROP BUDGETS, ILLINOIS, 2015
CROP BUDGETS Department of Agricultural and Consumer Economics University of Illinois CROP BUDGETS, ILLINOIS, 2015 Department of Agricultural and Consumer Economics University of Illinois September 2015
More informationPreparing A Cash Flow Statement
Preparing A Cash Flow Statement By: Norm Dalsted and Rod Sharp Colorado State University It is highly unlikely you would attempt to drive to Detroit, Michigan, without first consulting a road map. You
More informationTwo-Generation Farming
Two-Generation Farming Transferring Machinery and Livestock Contents Methods of transferring ownership... 2 Income tax considerations... 4 Transferring machinery... 6 Transferring breeding livestock...
More informationLivestock Budget Estimates for Kentucky - 2000
Livestock Budget Estimates for Kentucky - 2000 Agricultural Economics Extension No. 2000-17 October 2000 By: RICHARD L. TRIMBLE, STEVE ISAACS, LAURA POWERS, AND A. LEE MEYER University of Kentucky Department
More informationProPartners Financial Application Cover Page Please fax to 651-282-7861 with application
Loan Information: ProPartners Financial Application Cover Page Please fax to 651-282-7861 with application Applicant Name: Requested Amount Dealer Buy Down - % Dealer Add-On + % (Buy-down and add-on are
More informationUniversity of Illinois CROP BUDGETS. Consumer Economics
CROP BUDGETS Department of Agricultural and Consumer Economics University of Illinois CROP BUDGETS, ILLINOIS, 2013 Department of Agricultural and Consumer Economics University of Illinois July 2013 Introduction
More informationContents. Acknowledgements... iv. Source of Data...v
Kentucky Farm Business Management Program Annual Summary Data: Kentucky Grain Farms - 2011 Agricultural Economics Extension No. 2012-17 June 2012 By: Amanda R. Jenkins Michael C. Forsythe University of
More informationAgricultural Income Tax Issues - An Educational Module Offered by the University of Wyoming
Agricultural Income Tax Issues - An Educational Module Offered by the University of Wyoming Important Aspects of Financial Records Prepared by Jeffrey E. Tranel John P. Hewlett Rodney L. Sharp Keeping
More informationCROP BUDGETS, ILLINOIS, 2014
CROP BUDGETS Department of Agricultural and Consumer Economics University of Illinois CROP BUDGETS, ILLINOIS, 2014 Department of Agricultural and Consumer Economics University of Illinois June 2014 Introduction
More informationEstimating Cash Rental Rates for Farmland
Estimating Cash Rental Rates for Farmland Tenant operators farm more than half of the crop land in Iowa. Moreover, nearly 70 percent of the rented crop land is operated under a cash lease. Cash leases
More informationDeveloping a Chart of Accounts for the Farm or Ranch
Developing a Chart of Accounts for the Farm or Ranch EB 132 April 1995 Developing a Chart of Accounts for the Farm or Ranch by Genice Garner and Duane Griffith* Keep receipts Memo on checks Track only
More informationAgriculture & Business Management Notes...
Agriculture & Business Management Notes... Preparing an Income Statement Quick Notes... The income statement measures the profitability of a business over a specific period of time. Cash reporting of income
More informationFinancial Planning for Equine Enthusiasts Enterprise and Partial Budgets
Fact Sheet 657 Financial Planning for Equine Enthusiasts Enterprise and Partial Budgets Two primary functions are involved in good financial management. The first function, discussed in this fact sheet,
More informationCheck One: Single Married Filing Joint Surviving Widow/Widower Married Filing Separately (enter spouse s name/ss No. Above) Dependents Name
Felix Guillot, EA, ABA, ATA Kendyl Guillot, ABA E-Tax, LLC 318-445-5564 etaxla.com tax@etaxla.com Tax Organizer Tax Year 2014 Name: Taxpayer SS No. Birthdate/ Spouse SS No. Birthdate/ Address: Telephone
More informationTax Return Questionnaire - 2014 Tax Year
Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return Questionnaire
More information1420 n. CLAREMONT BLVD., SUITE 101-B TEL (909) 398-4737 CLAREMONT, CALIFORNIA 91711 FAX (909) 398-4733
1420 n. CLAREMONT BLVD., SUITE 101-B TEL (909) 398-4737 CLAREMONT, CALIFORNIA 91711 FAX (909) 398-4733 www.nicholscpas.com Email: info@nicholscpas.com January 12, 2015 RE: 2014 Tax Returns It is hard to
More informationThe estimated costs of corn, corn silage,
Estimated Costs of Crop Ag Decision Maker Production in Iowa - 2015 File A1-20 The estimated costs of corn, corn silage, soybeans, alfalfa, and pasture maintenance in this report are based on data from
More informationCredit Analysis Solutions AGRICULTURE
Credit Analysis Solutions AGRICULTURE FINPACK University of Minnesota 130 Ruttan Hall 1994 Buford Avenue St. Paul, Minnesota 55108 Phone: (612) 625-1964 Toll-Free: (800) 234-1111 Fax: (612) 625-3105 Email:
More informationThe BASICS of FINANCIAL STATEMENTS For Agricultural Producers
The BASICS of FINANCIAL STATEMENTS For Agricultural Producers Authors: James McGrann Francisco Abelló Doug Richardson Christy Waggoner Department of Agricultural Economics Texas Cooperative Extension Texas
More informationFarm Credit s Mission to serve Young, Beginning, and Small Farmers. New loans made in 2010 to: Young: $7.3 billion Beginning: $10.
Farming s Future: The Next Generation Gary Matteson, Farm Credit Council VP Young, Beginning, Small Farmer Programs and Outreach Looking to the Future must know where beginning farmers are what beginning
More informationLesson 2. Cash Flow Budgets
A Project Funded by USDA BFRDP Grant #10506276 Development Partners Include: Lesson 2. Cash Flow Budgets Introduction Cash flow budgets provide detail about periods when cash outflows exceed cash inflows.
More informationSwine Farm Business Analysis Workbook
Swine Farm Business Analysis Workbook Swine AoE Team Michigan State University Lead author and editor: Roger Betz Section contributing authors: Sherrill Nott Gerry Schwab Janice Knuth Mike Staton Aug.
More informationIncome Taxes. Description. Main Federal Tax Forms
Income Taxes Description Income in the U.S. is taxed by the Federal government to provide revenue to run the government and provide services to the citizens. Each year businesses and individuals must file
More informationMissouri Soybean Economic Impact Report
Missouri Soybean Economic Report State Analysis March 2014 The following soybean economic impact values were estimated by Value Ag, LLC, as part of a Missouri Soybean Merchandising Council funded project.
More informationForage Economics, page2. Production Costs
Forage Economics Geoffrey A. Benson, Professor Emeritus, Department of Agricultural and Resource Economics, and James T. Green, Jr., Professor Emeritus, Department of Crop Science, NC State University
More informationCash Flow Analysis Worksheets
Cash Flow Analysis Worksheets Trent Teegerstrom Introduction This article describes the cash budget and analysis worksheets available for downloading at the Department of Agricultural and Resource Economics
More informationHow To Write A Business Plan
Business Planning for Livestock Producers James McWhorter UF/IFAS Highlands County Livestock Agent Introduction Why create a business plan Components of a business plan Financial statements Five C s of
More informationFULLER LANDAU LLP. Tax Return Questionnaire - 2014 Tax Year. Name and Address: Social Security Occupation Number:
FULLER LANDAU LLP Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return
More information2016 Iowa Farm. Custom Rate Survey File A3-10 Many Iowa farmers hire custom machine work. Ag Decision Maker. Average Charge. Median Charge Range
2016 Iowa Farm Ag Decision Maker Custom Rate Survey File A3-10 Many Iowa farmers hire custom machine work in their farm business, or perform custom work for others. Some farmers rent machinery or perform
More informationAppendix A: Glossary
Appendix A: Glossary Acreage class - a structural indicator of farm size based on acres operated. The five acreage classes generally used in this report are: 1-49 acres, 50-179 acres, 180-499 acres, 500-999
More informationWhat type of Record Book to use: Animal: student owns or leases animals to market, produce, or compete Business: student owns/operates a business or
What type of Record Book to use: Animal: student owns or leases animals to market, produce, or compete Business: student owns/operates a business or is in a Placement SAE Crop: student is growing a crop
More informationAgriculture & Business Management Notes...
Agriculture & Business Management Notes... Preparing and Analyzing a Cash Flow Statement Quick Notes... Cash Flow Statements summarize cash inflows and cash outflows over a period of time. Uses of a Cash
More informationInstruction Sheet for Recordkeeping Template: Monthly Operational Expenses for Farm
Instruction Sheet for Recordkeeping Template: The intent of this table is to provide a place for recording farm expenses that you incurred and paid in the tax year. Generally, farmers can deduct the current
More informationThe key tools of farm business analyses
10 The key tools of farm business analyses This chapter explains the benefits of accurately documenting farm assets and liabilities, as well as farm costs and income, to monitor the business performance
More informationPersonal Study Assignment #1: Inventory Assessment
The purpose of this activity is for you to conduct an inventory of your farm business assets. Think about your farm business and list all of the assets you own and/or control that make up the farm business.
More informationFruit Farm Business Analysis Workbook
Fruit Farm Business Analysis Workbook Fruit AoE Team Michigan State University Lead author and editor: Roger Betz Section contributing authors: Sherrill Nott Gerry Schwab Janice Knuth Mike Staton Mark
More informationUnderstanding budgets and the budgeting process R. L. Smathers
ALTERNATIVE AGRICULTURAL ENTERPRISES PRODUCTION, MANAGEMENT & MARKETING Understanding budgets and the budgeting process R. L. Smathers As a business owner, the primary problem you face is a limited supply
More informationIllinois Department of Revenue Regulations TITLE 86: REVENUE PART 130 RETAILERS OCCUPATION TAX SUBPART C: CERTAIN STATUTORY EXEMPTIONS
Illinois Department of Revenue Regulations Title 86 Part 130 Section 130.305 Farm Machinery and Equipment TITLE 86: REVENUE PART 130 RETAILERS OCCUPATION TAX SUBPART C: CERTAIN STATUTORY EXEMPTIONS Section
More informationConversion Formulas and Tables
Conversion Formulas and Tables Metric to English, Introduction Most of the world, with the exception of the USA, uses the metric system of measurements exclusively. In the USA there are many people that
More informationLivestock Rental Lease
Livestock Rental Lease NCFMEC-06A For additonal information see NCFMEC 06 (Beef Cow Rental Arrangements For Your Farm). This form can provide the landowner and operator with a guide for developing an agreement
More informationIncome Statement A Financial Management Tool
E-484 RM5-6.0 09-08 Risk Management Income Statement A Financial Management Tool Danny Klinefelter* An income statement measures the success of a business, in terms of net income or loss, for a period
More informationGuidelines for Estimating. Beef Cow-Calf Production Costs 2015. in Manitoba
Guidelines for Estimating Beef Cow-Calf Production Costs 2015 in Manitoba ................................................. Guidelines For Estimating Beef Cow-Calf Production Costs Based on a 150 Head
More informationUsing Enterprise Budgets To Make Decisions about Your Farm Richar d Carkner
PNW0535 Using Enterprise Budgets To Make Decisions about Your Farm Richar d Carkner A Pacific Northwest Extension Publication Washington Oregon Idaho Enterprise budgets are important decision making tools.
More informationCOM PREHENSIVE GUIDE TO FARM FINANCIAL MANAGEM ENT AGRICULTURE. Module 7: Cash Flow Statement Analysis
COM PREHENSIVE GUIDE TO FARM FINANCIAL MANAGEM ENT AGRICULTURE P R O G R A M S A N D S E R V I C E S Module 7: Cash Flow Statement Analysis Course Map 7-1 Cash Flow Statement Analysis Introduction The
More informationTABLE 1. Basic cost information for Dell City area, Otero County, 2003. Item
TABLE 1. Basic cost information for Dell City area, Otero County, 2003. Item Labor Wage Rate: EDuipment operators $/hour $7.50 General & Irrigators $/hour $6.75 Purchased Inputs: FertiliQer: Nitrogen (N)
More informationBUSINESS TOOLS. Preparing Agricultural Financial Statements. How do financial statements prove useful?
Preparing Agricultural Financial Statements Thoroughly understanding your business financial performance is critical for success in today s increasingly competitive agricultural, forestry and fisheries
More informationSOURCES AND USES OF FUNDS ON KFMA FARMS
KANSAS FARM MANAGEMENT ASSOCIATION Your Farm - Your Information - Your Decision N E W S L E T T E R Volume 6, Issue 3 March 2012 SOURCES AND USES OF FUNDS ON KFMA FARMS A flow of funds report, often referred
More informationPromoting Innovation in Maryland Agricultural and Resource-Based Business
Promoting Innovation in Maryland Agricultural and Resource-Based Business Application for the Rural Business Working Capital Loan Fund Program Description The Rural Business Working Capital Loan Fund has
More informationCONDUCTING A COST ANALYSIS
CONDUCTING A COST ANALYSIS Jennie S. Popp Department of Agricultural Economics & Agribusiness University of Arkansas Fayetteville, AR 72701 George Westberry, Retired Department of Agricultural & Applied
More informationCost of Production. Cost of Production. Cost of Production!
Cost of Production Versus Cost of Production And then there is, Cost of Production! Ken Bolton and Gary Frank Introduction September 2009 Historically business advisors have encouraged farm managers to
More informationCOOPERATIVE EXTENSION Bringing the University to You
COOPERATIVE EXTENSION Bringing the University to You Special Publication 05-12 Importance & Use of Enterprise Budgets in Agricultural Operations William W. Riggs, Eureka County Extension Educator, University
More informationOBTAINING OPERATING CAPITAL FOR 2016 GRAIN OPERATIONS: NEEDS, RISKS, REWARDS & THE BOTTOM LINE
OBTAINING OPERATING CAPITAL FOR 2016 GRAIN OPERATIONS: NEEDS, RISKS, REWARDS & THE BOTTOM LINE 02.03.16 JEFF RODIBAUGH FIRST FARMERS BANK & TRUST POLL: 2016 CORN BELT SEED CONFERENCE 1. You believe there
More informationLachowicz & Company, LLC www.cpapros.com Tax Organizer Tax Year 2009
Lachowicz & Company, LLC www.cpapros.com Tax Organizer Tax Year 2009 Name: Taxpayer SS No. Birthdate/Age Spouse SS No. Birthdate/Age Address: Telephone (Home) ( ) Telephone (Work) ( ) Cell Phone: ( ) Cell
More informationCourse: AG 460-Agribusiness Management and Marketing
Course: AG 460-Agribusiness Management and Marketing Unit Objective CAERT Lesson Plan Library Unit Problem Area Lesson Agricultural Careers 1. Identify and describe careers in agriculture Agribusiness
More informationHow to Read a Farm's Balance Sheet
THE UNIVERSITY OF TENNESSEE AGRICULTURAL EXTENSION SERVICE PB 1583 The Development and Use of Financial Statements: The Balance Sheet Robert W. Holland, Jr., Assistant Area Specialist-Farm Management Delton
More informationAGRICULTURAL ECONOMICS. Preparing a Projected Cash Flow Statement. Introduction. What Information Is Provided? EC-616-W
AGRICULTURAL ECONOMICS EC-616-W Preparing a Projected Cash Flow Statement Freddie L. Barnard, Professor Elizabeth A. Yeager, Assistant Professor Department of Agricultural Economics Purdue University Introduction
More informationBasics of accounting Documentation basics Choosing an accounting system Common tax issues Get an advisor!!!
Basics of accounting Documentation basics Choosing an accounting system Common tax issues Get an advisor!!! Money TRANSACTIONS CHART OF ACCTS GENERAL LEDGER BALANCE SHEET INCOME STATEMENT FINANCIAL STATEMENTS
More informationFayette County Appraisal District
Fayette County Appraisal District Agricultural Guidelines July 7, 2010 A SUPPLEMENT TO THE STATE OF TEXAS PROPERTY TAX MANUAL FOR THE APPRAISAL OF AGRICULTUAL LAND AND WILDLIFE MANAGEMENT ACTIVITIES AND
More informationFCAT FLORIDA COMPREHENSIVE ASSESSMENT TEST. Mathematics Reference Sheets. Copyright Statement for this Assessment and Evaluation Services Publication
FCAT FLORIDA COMPREHENSIVE ASSESSMENT TEST Mathematics Reference Sheets Copyright Statement for this Assessment and Evaluation Services Publication Authorization for reproduction of this document is hereby
More information